Fastest way to kill a deal

2015-04-30 15:18

It goes without saying that homeowners who put their property on the market are looking to get the best possible return on their investment.

The fastest way to kill a deal is by not being negotiable on the asking price of the property.

According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, one key element that will sell a home is the asking price, so in order to find the right buyer for their home, sellers must have a sound pricing strategy.

“Even though we are currently in a sellers’ market, homeowners still need to have a plan of action if they want to get the best possible price for their home.”

He says home buyers have a vast amount of information at their fingertips and most have a good idea of fair market value. As such, sellers need to price their property accordingly to ensure that they will attract the right buyers to the property.

Goslett shares six common pricing mistakes that sellers should try to avoid:

1. Overpricing

Probably the most common mistake that sellers make when it comes to pricing is inflating their asking price to make room for negotiation.

2. Disregarding recent home sale prices

There is often a difference between what homes are listed for and what they actually sell for.

An experienced real estate professional will have access to this kind of information and will be able to provide valuable guidance to sellers in correctly determining a fair market value, he says.

3. Not considering online search parameters

Around 90% of all home buyers will first search online before using any other form of media to look for a property. As such, it is important to consider this when setting an asking price.

4. Being over creative with the price

Choosing a round number is far easier for all the parties involved. There may be some distinguishing features of the home that could lead the seller to list their property at an unusual number, such as R715 5

5. Being closed to negotiation

The fastest way to kill a deal is by not being negotiable on the asking price of the property.

6. Not taking the agent’s insights into consideration

Choosing a reputable agent with area experience will put the seller on the right path to setting the correct asking price.

An agent will have access to resources and information that the homeowner will not. They will also be able to base their assessment on facts and figures, without bringing emotion into the equation.


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